June 17, 2014
Drivers across the country will likely need to reach further down into their wallets to fill their thirsty tanks as the threat of rising gas prices are on the horizon; just in time for the upcoming July 4th holiday travel weekend.
As of Tuesday, June 17, the national price of a gallon of gasoline is just four cents shy of the current 2014 peak at $3.66 per gallon, while the Commonwealth of Virginia is only six cents lower than the current 2014 peak at $3.46 per gallon.
AAA says at this time last year, drivers were paying less at the pump while gas price trends were sloping downward. The recent turmoil in Iraq is likely to prevent that trend from repeating this year. Escalating tensions in Iraq married with higher than expected demand contributed to the surge in the price of crude oil, closing at $106.90 on Monday, June 16.
“It’s never the right time to see gas prices rise, however the timing could not be worse for motorists as we get closer to the July 4th holiday,” said Martha Mitchell Meade, Manager of Public and Government Affairs for AAA Mid-Atlantic. “For many travelers, this could mean a quick change of plans to stay closer to home and avoid the dreaded pain at the pump,” continued Meade.
The good news, however, is that with gas prices on the rise, Virginia still proudly boasts as the 7th lowest in the country to purchase gasoline. For our neighbors in the District of Columbia, the story is unfortunately quite the opposite as it is the 11th highest in the country to buy gasoline and 20 cents higher than the national average.